During the Sept. 16 council meeting, a rate of $0.237228 per $100 valuation was approved. That is a decrease from last year’s amount of $0.241165 per $100 valuation. According to city documents, that is $0.059338 less than the calculated voter-approval tax rate.
The details
The ad valorem tax rate is composed of two parts: the debt service rate and operation and maintenance, or O&M.
The O&M rate is $0.134431 per $100 valuation and the debt service rate is $0.102797 per $100 valuation, according to city documents.
The fiscal year 2025-26 budget was approved using those tax rates.
The fiscal year started Oct. 1 and runs through Sept. 30, 2025, according to city documents.
This year’s budget, spread between 13 funds, is $245.6 million. That is up $4 million from last year’s budget. The general fund of $87.6 million is a decrease of nearly $1 million compared to $88.5 million that was approved last year, according to previous reporting.
Comparing the budget from last fiscal year to this fiscal year, most of the funds saw a slight decrease.
The appraised and assessed value for the fiscal year 2025-26 budget was $19.7 billion and the adjusted 2025 total taxable value was $3.9 billion, according to city documents.
New construction values were $79.9 million.
